MHA Insurance Company Offers Financial Incentive to Physician Policyholders Who Use Electronic Medical Records
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Starting Feb. 1, 2008, MHA Insurance Company will grant a premium credit of up to 5 percent for qualifying policyholders who utilize an Electronic Medical Records (EMR) system. A qualifying policyholder would include independent solo physicians and group physician practices.
Currently, MHA Insurance Company provides medical professional liability insurance to more than 3,000 independent physicians in eight states throughout the greater Midwest.
The coverage is placed by FinCor Solutions ( http://www.fincorsolutions.com ), the Lansing, Mich.-based affiliate of MHA Insurance Company. FinCor Solutions is a full-service, multi-line insurance agency offering traditional and alternative risk products and services for health care providers. Both MHA Insurance Company and FinCor Solutions are subsidiaries of FinCor Holdings, an integrated risk management corporation.
To receive a first-year premium credit of 5 percent, and subsequent annual 2.5 percent credits, qualifying policyholders of MHA Insurance Company must meet the following criteria:
— The EMR system being used by the physician practice must be certified by the Certification Commission for Healthcare Information Technology.
— At least 75 percent of physician group members must be using the EMR system.
— The qualifying EMR system must be operational and in use for a minimum of one year.
EMR systems have been shown to contribute to reduced physician risk through clear, consistent documentation, improved follow-up procedures, enhanced interpretation and communication, increased security and disaster recovery capabilities. As such, EMR systems are also linked to increased patient safety. “As an organization dedicated to helping our clients efficiently manage risk, we view this step as a logical application of available technology. I am certain you will begin to see others follow our lead in looking at innovative ways to encourage providers to take advantage of the tools and resources that positively affect patient care,” said Tom Dickinson, FinCor Holdings president and CEO.
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